Are you looking for a safe and secure API for obtaining commodities rates? If so, you are in luck! Here are the best 3 APIs available today!
You may already be aware that changes in supply and demand have a significant effect on commodity pricing. Take into account how when an agricultural commodity is gathered in vast quantities; the price typically lowers. However, when there is a chance that a contract will fail, prices climb. Typically, this happens because consumers have to pay more to get the resources they need.
With all this in mind, anyone considering trading or investing in commodities must therefore have access to reliable; and accurate price information. Fortunately, an API for commodities prices allows anyone to quickly acquire accurate data on commodities; in a safe manner.
Which APIs Are The Most Safe And Secure For Obtaining Commodities Rates Today?
The safest and fastest approach to obtain precise rates from reliable sources is by using an API for commodities rates. This is due to the tool’s ability to quickly transmit commodity information to your applications after gathering it from trustworthy financial sources.
But not all of the APIs for commodities rates that are currently widely accessible are secure or dependable. This is due to the possibility that they come from questionable API suppliers! Thus, to help you choose a reliable and safe API to use; we have gathered information on three of the top commodities rates APIs available right now:
1. Commodities-API
The pricing of many commodities, including wheat, rice, coffee, and sugar, is shown using Commodities-API; a well-known and reliable open API. It compiles price information from over 15 reliable data sources; including banks and financial institutions, and provides it to you within seconds.
Additionally, Commodities-API offers data with two decimal points of accuracy; in more than 170 different currencies. Depending on the subscription you select, you can make up to 100.000 API requests per month; and receive data updates every 60 seconds. Furthermore, is a pretty safe-to-use API since it employs bank-level protection. A 256-bit SSL encryption of the highest quality is used to encrypt your connection to Commodities-API .
2. Exchange Rates Open API
Open Exchange Rates provides a portable, safe, and straightforward API with exchange rates for more than 150 currencies around the globe. The data provided is gathered from a variety of trustworthy sources; and combined algorithmically to ensure fair and impartial coherence.
The exchange forms that are made available through Open Exchange Rates API are gathered using data from numerous reliable sources; delivered in JSON format for all users, and then made public. It also uses a high-level encryption which will ensure your connection’s safety with this API
3. CommonPrices API
CommonPrices API is another web-based tool that makes it simple to get the values of more than 10,000 different commodities and indexes. Depending on the plan you choose, this API effectively collects data from a range of trustworthy sources and updates it daily; weekly, or monthly.
This API is available in JSON data format as well for the best use and compatibility with your projects. Furthermore, CommonPrices API is a relatively secure application because it uses HTTPS to encrypt connections between your browser and their servers; to ensure accuracy and safety.
Related post: 3 Low Cost Alternatives To Commoprices For Commodity Data API
Also published on Medium.